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US 2013 Corn Exports Predicted to be Down

The USDA released its World Agricultural Supply and Demand Estimates report on Friday, predicting that US 2013 corn exports will be down, due to increased competition largely from Brazil, but also from Mexico, India, and the Ukraine. It predicts that demand for ethanol will be unchanged, but domestic demand for sugars and starch will increase.

Asked for her comments on the report, Katie Greiner, with Kat’s Grain in Washington tells KCII News that the 2012 corn supply remains tight, and that many Washington area producers are luckier than those in other parts of the state given that the area wasn’t hit so hard by the drought. She thinks $7.00 for old crop corn is a good price, but if farmers are bullish, and think prices will rise, options should be considered.